EX-10.46



 Exhibit 10.46 

MARKIT LTD. 
 2014 EQUITY
INCENTIVE AWARD PLAN 
 MARKIT LTD. RESTRICTED SHARE UNIT GRANT NOTICE AND 

RESTRICTED SHARE UNIT AGREEMENT 

Markit Ltd., an exempted company incorporated under the laws of Bermuda (the “Company”), pursuant to its 2014 Equity
Incentive Award Plan (the “Plan”), hereby grants to the individual listed below (the “Holder”) an award of Restricted Share Units (“RSUs”) indicated below, which RSUs shall be
subject to vesting based on the Holder’s continued service with the Company, as provided herein. This award of RSUs, together with any accumulated Dividend Equivalents as provided herein (the “Award”), is subject to all
of the terms and conditions as set forth herein, and in the Restricted Share Unit Agreement attached hereto as Exhibit A (the “Agreement”) and the Plan, each of which is incorporated herein by reference. Unless
otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Restricted Share Unit Grant Notice (the “Grant Notice”) and the Agreement. 

 

			
	 Holder:
	 	 
		
	 Grant Date:
	 	 
		
	 Number of RSUs:
	 	 
		
	 Vesting Schedule:
	 	Subject to the terms and conditions of the Agreement, the RSUs (together with any accumulated Dividend Equivalents) shall become vested in [three equal annual installments on the first, second, and third anniversaries of the
Grant Date] [five equal annual installments on the first, second, third, fourth and fifth anniversaries of the Grant Date] (but will remain subject to the terms of this Agreement and the Plan) [provided, however, that, if the Holder
incurs a Termination of Service without Cause[ or for Good Reason], then any unvested portion of such RSUs (together with any unvested accumulated Dividend Equivalents) that would have vested within the 12-month period immediately following such
termination as if the Holder had not experienced a Termination of Service, shall vest in full immediately upon the date of such Termination of Service; and provided, further, however, that if such Termination of Service occurs
within the twelve (12) month period commencing on and following a Change in Control, then 100% of the RSUs (together with any accumulated Dividend Equivalents) shall vest in full immediately upon the date of such Termination of Service. [As used
herein, the term “Good Reason” shall have the meaning ascribed to such term in the Holder’s employment agreement with the Company (or any Affiliate)] ].

 By the Holder’s signature below, or by the Holder’s submitting his or her electronic acceptance of
the Award subject to this Grant Notice using the website of the Company’s designated brokerage firm, the Holder agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant Notice. Holder agrees to access copies of
the Plan and the prospectus governing the Plan (collectively, the “Plan Documents”) on the Company’s intranet or on the website of the Company’s designated brokerage firm. Paper copies are also available upon
request to the Secretary of the Company at the Company’s corporate offices. 
 The Holder has reviewed this Grant Notice, the Agreement
and the Plan Documents in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice or accepting the Award subject hereto and fully understands all provisions of this Grant Notice, the 







 Agreement and the Plan. The Holder agrees to accept as binding, conclusive and final all decisions or
interpretations of the Committee with respect to the Plan, this Grant Notice or the Agreement. 
 IN WITNESS WHEREOF, the undersigned
has executed this Grant Notice effective as of the Grant Date. 
 HOLDER 
  

			
		
	By:	 	 
	 Print Name:

Address:



  
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 EXHIBIT A 

TO RESTRICTED SHARE UNIT GRANT NOTICE 

RESTRICTED SHARE UNIT AGREEMENT 

Pursuant to the Grant Notice to which this Agreement is attached, the Company has granted to Holder the right to receive a number of RSUs set
forth in the Grant Notice, together with any Dividend Equivalents pursuant to Section 2(f) below, subject to all of the terms and conditions set forth in this Agreement and the Grant Notice. The Award is also subject to the terms and conditions
of the Plan which are incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control. Capitalized terms not specifically defined herein shall have the meanings specified
in the Plan and the Grant Notice, as applicable. 
 Terms and Conditions 

1. Grant of RSUs. Effective as of the grant date set forth in the Grant Notice (the “Grant Date”), and
subject to the terms and conditions set forth in the Plan and this Agreement, the Committee has granted to the Holder, pursuant to the Grant Notice and the Plan, the number of RSUs set forth in the Grant Notice and accumulated Dividend Equivalents
pursuant to Section 2(f) below, subject to the restrictions, terms and conditions set forth in this Agreement and the Plan. Each RSU represents the right to receive one Share at the time provided for herein, together with any Dividend
Equivalent issued in respect thereof. The Holder’s right to receive Shares and Dividend Equivalents under this Agreement shall be no greater than the right of any unsecured general creditor of the Company. 

2. RSUs. 
 (a)
Rights as a Shareholder. The Holder shall have no rights of a shareholder with respect to the Shares represented by RSUs, including, but not limited to, the right to vote and to receive dividends, unless and until such Shares are
transferred to the Holder pursuant to the Plan and this Agreement. 
 (b) Vesting and Payment. Subject to Section 2(c)
below and the other terms and conditions of this Agreement, the RSUs and any accumulated Dividend Equivalents, as provided under Section 2(f) below, shall become vested in accordance with the vesting schedule set forth in the Grant Notice (but
will remain subject to the terms of this Agreement and the Plan), provided that the Holder has not experienced a Termination of Service prior to the applicable vesting date. There shall be no proportionate or partial vesting in the periods
prior to each vesting date and all vesting shall occur only on the applicable vesting date. Subject to the terms of this Agreement and the Plan, the Shares and any accumulated Dividend Equivalents shall be delivered and paid to the Holder as soon as
practicable following the applicable vesting date, but not later than thirty (30) days thereafter. 
 (c) Forfeiture.
Upon the Holder’s Termination of Service for any reason, any and all unvested RSUs, together with any and all unvested accumulated Dividend Equivalents, shall automatically be cancelled for no consideration, and shall cease to be outstanding.

 (d) Restriction on Transfer of RSUs. No RSUs shall be transferable by the Holder other than by will or by the laws of
descent and distribution. Any attempt to transfer the RSUs other than in accordance with the expressed terms of the Plan shall be void. 

(e) Certain Legal Restrictions. The Plan, this Agreement, the granting, vesting


  
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and settlement of the RSUs and any Dividend Equivalents, and any obligations of the Company under the Plan and this Agreement, shall be subject to all applicable federal, foreign, provincial,
state and local laws, rules and regulations, and to such approvals by any regulatory or governmental agency as may be required, and to any rules or regulations of any exchange on which the Shares are listed. 

(f) Dividend Equivalents. During the period from the Grant Date through the date on which Shares underlying vested RSUs are
issued to the Holder pursuant to Section 2(b), the Company shall credit the Holder with Dividend Equivalents equal to the dividends the Holder would have received if the Holder had been the actual record owner of the underlying Shares on each
dividend record date. If a dividend on the Shares is payable wholly or partially in Shares, the Dividend Equivalent representing that portion shall be in the form of additional RSUs, credited on a one-for-one basis. If a dividend on the Shares is
payable wholly or partially in cash, the Dividend Equivalent representing that portion shall also be in the form of cash, and the Holder shall be treated as being credited with any cash dividends, without earnings, until settlement pursuant to
Section 2(b) above. If a dividend on Shares is payable wholly or partially in a form other than cash or Shares, the Committee may, in its discretion, provide for such Dividend Equivalents with respect to that portion as it deems appropriate
under the circumstances. Dividend Equivalents shall be subject to the same terms and conditions as the RSUs originally awarded pursuant to the Grant Notice and this Agreement, and they shall vest (or, if applicable, be forfeited) as if they had been
granted at the same time as the original RSU award. Dividend Equivalents representing the cash portion of a dividend on Shares shall be settled in cash. 

(g) Corporate Events. Except as otherwise provided in the Grant Notice or this Agreement, the provisions of Section 13.2 of
the Plan shall apply to the RSUs and any Dividend Equivalents. 
 3. Withholding of Taxes. The Company or any Subsidiary shall
have the authority and the right to deduct or withhold from an amount paid in cash, or require the Holder to remit to the Company, an amount paid in cash sufficient to satisfy any applicable federal, state, local and foreign taxes (including the
Holder’s FICA, employment tax or other social security contribution obligation or any applicable employer’s national insurance contributions) required by law to be withheld with respect to any taxable event concerning the Holder arising as
a result of the Plan or this Agreement. The Committee, in its sole discretion, may require payment by the Holder of an amount that is equal to the sum of all employment and other taxes, insurance premiums and other amounts imposed by any and all
applicable tax authorities on the Company or any Subsidiary or Affiliate with respect to any amounts payable to, or earned by, the Holder in respect of the RSUs and any Dividend Equivalents. The Committee, in its sole discretion and in satisfaction
of the foregoing requirement, may (i) repurchase or allow the Holder to elect to have the Company repurchase Shares otherwise issuable hereunder or (ii) cause the sale of a sufficient number of Shares on behalf of the Holder to realize
sale proceeds equivalent to the applicable tax liabilities and remit such amount to or at the direction of the Holder’s employer or the Committee in satisfaction of such tax liabilities. Unless otherwise determined by the Committee, the number
of Shares which may be so repurchased or sold on behalf of the Holder shall be limited to the number of Shares which have a fair market value on the date of repurchase or sale (as the case may be) necessary to pay the aggregate amount of such
liabilities based on the minimum statutory withholding rates for federal, state, local and foreign income tax and payroll tax purposes that are applicable to such supplemental taxable income. 

4. Provisions of Plan Control. This Agreement is subject to all the terms, conditions and provisions of the Plan, including,
without limitation, the amendment provisions thereof, and to such rules, regulations and interpretations relating to the Plan as may be adopted by the Committee and as may be in effect from time to time. The Plan is incorporated herein by reference.
If 

  
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and to the extent that any provision of this Agreement conflicts or is inconsistent with the terms set forth in the Plan, the Plan shall control, and this Agreement shall be deemed to be modified
accordingly. 
 5. Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the
subject matter hereof and supersedes any prior agreements between the Company and the Holder with respect to the subject matter hereof. 

6. Notices. Any notice or communication given hereunder shall be in writing or by electronic means as set forth in
Section 11 below and, if in writing, shall be deemed to have been duly given: (i) when delivered in person; (ii) two (2) days after being sent by United States mail; or (iii) on the first business day following the date of
deposit if delivered by a nationally recognized overnight delivery service, to the appropriate party at the address set forth below (or such other address as the party shall from time to time specify): 

If to the Company, to: 

Markit Ltd. 

c/o Markit North America Inc. 

620 8th Avenue, 35th
Floor 
 New York, NY 10018 

United States of America 

Attn.: General Counsel 

If to the Holder, to the address on file with the Company. 

7. No Guaranteed Employment. Nothing contained in this Agreement shall affect the right of the Company or any of its Affiliates
to terminate the Holder’s employment at any time, with or without Cause, or shall be deemed to create any rights to employment or continued employment. The rights and obligations arising under this Agreement are not intended to and do not
affect the Holder’s employment relationship that otherwise exists between the Holder and the Company or any of its Affiliates, whether such employment relationship is at will or defined by an employment contract. Moreover, this Agreement is not
intended to and does not amend any existing employment contract between the Holder and the Company or any of its Affiliates; to the extent there is a conflict between this Agreement and such an employment contract, the employment contract shall
govern and take priority. 
 8. Power of Attorney. The Company (including its successors and assigns) is hereby appointed the
attorney-in-fact, with full power of substitution, of the Holder for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instruments which such attorney-in-fact may deem necessary or advisable to
accomplish the purposes hereof, which appointment as attorney-in-fact is irrevocable and coupled with an interest. The Company, as attorney-in-fact for the Holder, may in the name and stead of the Holder, make and execute all conveyances,
assignments and transfers of the RSUs, Dividend Equivalents, other property issued in respect of such RSUs, Shares and any property provided for herein, and the Holder hereby ratifies and confirms that which the Company, as said attorney-in-fact,
shall do by virtue hereof. Nevertheless, the Holder shall, if so requested by the Company, execute and deliver to the Company all such instruments as may, in the judgment of the Company, be advisable for this purpose. 

9. WAIVER OF JURY TRIAL. EACH PARTY TO THIS AGREEMENT, FOR ITSELF AND ITS AFFILIATES, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ALL RIGHT 

  
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 TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE)
ARISING OUT OF OR RELATING TO THE ACTIONS OF THE PARTIES HERETO OR THEIR RESPECTIVE AFFILIATES PURSUANT TO THIS AGREEMENT OR IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT OF THIS AGREEMENT. 

10. Interpretation. All section titles and captions in this Agreement are for convenience only, shall not be deemed part of this
Agreement, and in no way shall define, limit, extend or describe the scope or intent of any provisions of this Agreement. 
 11. Mode
of Communications. The Holder agrees, to the fullest extent permitted by applicable law, in lieu of receiving documents in paper format, to accept electronic delivery of any documents that the Company or any of its Affiliates may deliver in
connection with this grant of RSUs, including, without limitation, prospectuses, grant notifications, account statements, annual or quarterly reports, and other communications. The Holder further agrees that electronic delivery of a document may be
made via the Company’s email system or by reference to a location on the Company’s intranet or website or the online brokerage account system. 

12. No Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of
this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition. 

13. Severability. If any provision of this Agreement is declared or found to be illegal, unenforceable or void, in whole or in
part, then the parties hereto shall be relieved of all obligations arising under such provision, but only to the extent that it is illegal, unenforceable or void, it being the intent and agreement of the parties hereto that this Agreement shall be
deemed amended by modifying such provision to the extent necessary to make it legal and enforceable while preserving its intent or, if that is not possible, by substituting therefor another provision that is legal and enforceable and achieves the
same objectives. 
 14. Counterparts. This Agreement may be executed in counterparts, all of which together shall constitute
one agreement binding on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart. 

15. Data Protection. By participating in the Plan and entering into this Agreement, the Holder hereby consents to the holding
and processing of personal information provided by the Holder to the Company, any Affiliate, trustee or third party service provider, for all purposes relating to the operation of the Plan. These include, but are not limited to:
(i) administering and maintaining the Holder’s records; (ii) providing information to the Company, Affiliates, trustees of any employee benefit trust, registrars, brokers or third party administrators of the Plan; (iii) providing
information to future purchasers or merger partners of the Company or any Affiliate, or the business in which the Holder works; and (iv) transferring information about the Holder to any country or territory that may not provide the same
protection for the information as the Holder’s home country. 
 16. Governing Law. This Agreement shall be governed by
and construed in accordance with the laws of the State of New York, regardless of the law that might be applied under principles of conflict of laws. Each party hereby irrevocably submits to the exclusive jurisdiction of the federal and state courts
of New York located in the Borough of Manhattan in New York City in respect of the interpretation and enforcement of the provisions of this Agreement. Each party hereby waives and agrees not to assert, as a defense in any action, suit or proceeding
for the interpretation and enforcement 

  
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 hereof, that such action, suit or proceeding may not be brought or is not maintainable in such courts or that the
venue thereof may not be appropriate or that this Agreement may not be enforced in or by such courts. Each party hereby consents to and grants any such court jurisdiction over the person of such parties and over the subject matter of any such
action, suit or proceeding and agrees that the mailing of process or other papers in connection with any such action, suit, or proceeding in the manner provided in Section 6 hereof or in such other manner as may be permitted by law shall be
valid and sufficient service thereof. 
 17. Miscellaneous. 

(a) This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, personal legal
representatives, successors, trustees, administrators, distributees, devisees and legatees. The Company may assign to any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the
business and/or assets of the Company or any Affiliate by which the Holder is employed, and require such successor to expressly assume and agree in writing to perform, this Agreement. 

(b) The Holder agrees that the award of the RSUs hereunder is special incentive compensation and that it, any Dividend Equivalents or any
other property issued in respect of such RSUs will not be taken into account as “salary” or “compensation” or “bonus” in determining the amount of any payment under any pension, retirement or profit-sharing plan of the
Company or any life insurance, disability or other benefit plan of the Company, unless specifically provided in the applicable plan. 
 (c)
No modification or waiver of any of the provisions of this Agreement shall be effective unless in writing and signed by the party against whom it is sought to be enforced. 

18. Section 409A and Section 457A. To the extent the Committee determines that any payment under this Agreement is
subject to Section 409A or Section 457A of the Code, the provisions of Section 13.10 of the Plan (including, without limitation, the six-month delay relating to “specified employees”) shall apply. 

  
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